Economy

LG Group Speeds up 4th-Generation Leadership Transfer

Write : 2018-06-28 19:11:13Update : 2018-06-29 13:12:48

LG Group is looking to push through a leadership transfer following the recent death of its chairman.

Koo Kwang-mo, senior vice president at LG Electronics, who is a son of late LG Group Chairman Koo Bon-moo, will likely be appointed as a co-president of the group’s holding firm, LG Corporation, on Friday.

LG Corporation plans to hold an interim stockholders’ meeting on the same day to vote on the plan and its board will likely endorse it.

If appointed, Koo will represent the holding company along with the group’s vice chairman Ha Hyun-hwoi.

Koo is a grand-grandson of Koo In-hoe, the founder of the family-controlled group. The founder passed the conglomerate’s top job to his son, Koo Ja-kyung, who did the same to his son Koo Bon-moo.